₦airaland Forum

chimex38:
Good Observation..
But on further checks according to the line item, it's more likely a tax-credit rather than a tax-expense, hence not bracketed and rightly added.

In the same line item, they got a tax credit from their exploration activity of ₦27.99bn and it was added. That's the source of the observation you rightly highlighted.

I could also be wrong.
Cc: Youngzedd

SAK:
Which company is this?

Youngzedd:
Oando

Profit
2023: ~60.3B
2024: ~65.5B

EPS
2023: 5
2024: 5

Administrative expenses
2023: ~261.4B
2024: ~402.7B

Oga Wale.....

chimex38:
Good Observation..
But on further checks according to the line item, it's more likely a tax-credit rather than a tax-expense, hence not bracketed and rightly added.

In the same line item, they got a tax credit from their exploration activity of ₦27.99bn and it was added. That's the source of the observation you rightly highlighted.

I could also be wrong.
Cc: Youngzedd

chimex38:
Good Observation..
But on further checks according to the line item, it's more likely a tax-credit rather than a tax-expense, hence not bracketed and rightly added.

In the same line item, they got a tax credit from their exploration activity of ₦27.99bn and it was added. That's the source of the observation you rightly highlighted.

I could also be wrong.
Cc: Youngzedd

ositadima1:
Why Did Oando Report a Tax Credit?
Upstream Tax Incentives:

1. Nigeria’s Petroleum Industry Act (PIA) grants tax holidays, investment allowances, and deductions for oil exploration and production (E&P) activities.

2. Oando’s E&P segment likely triggered tax credits due to capital allowances or reinvestment in upstream assets (e.g., NAOC acquisition).

Deferred Tax Assets (DTAs):

1. Past losses or temporary differences (e.g., impairments, depreciation) can create DTAs, which offset taxable income.

2. If Oando utilized DTAs from prior years, it would reduce current tax liability.


Is the Tax Credit Sustainable?
Yes, if:

1. Oando continues qualifying for upstream tax breaks (e.g., PIA incentives for new exploration).

2. It maintains deferred tax assets (e.g., through ongoing capital expenditures or losses).

No, if:

1. Tax authorities revise policies or restrict incentives.

2. DTAs are exhausted, or profitability improves significantly (increasing taxable income).

mikeapollo:
I guess it is a typo
The N17b was actually disclosed as income tax credit in the Q3 2024 results.

yMcy56:
I cant seems to see the Shareholding Structure
I've been searching for it
Which page did you see this pls

crownprince2017:
Majority shareholders increase their stake to 84% from 65%, something is telling me they will later delist the company .

KarlTom:
OandO Full Offer

KarlTom:
OandO Full Offer

KarlTom:
OandO Full Offer

KarlTom:
Pg 37 & 40

GeeKudi:
Maybe the description should have been better worded. You don't name an item an expense and then enter it as a credit.

On the whole, I think the result is a major improvement from previous years and a clear indication of the direction the company is headed going forward. They just need to quickly double efforts on the planned capital restructuring and adopt more cost effective approaches to running the business.

essentialone:
ETranzact heading to Full Bid at N7.15

TIP, CWG, and CHELLERAM on Full Bid

Raider76:
Could be a good daytrade day for Oando.

yMcy56:
Thanks
Na page 31 my own open reach when I downloaded it, maybe it was network.

If minority don't dump, how will substantial shareholders be able to increase their stakes the more.....
We must see to the end of all these...😁

Raider76:
Could be a good daytrade day for Oando.

KarlTom:
Don't loud it...

robobo:
People wey sabi, sabi

essentialone:
ETranzact heading to Full Bid at N7.15

TIP, CWG, and CHELLERAM on Full Bid

Locotrader:
Yes, I came out because of E tranzact and CWG.
These used to be stocks of low profit margins in the past but today they have repositioned.Wait for CHAMS result any moment from now and see with your eyes how far they have improved.
Apart from omatek and NCR that needs restructuring,other stocks in the ICT sector are candidates of N10,N15,N20.
Cwg,E tranzact and Chams ,your own time has come.

I come back in peace.